A perpetual contract is a cryptocurrency derivative that has no expiration date and is settled in cash. It enables users to speculate on price movements without owning the underlying asset. Perpetual contracts offer advantages such as high leverage, low fees, and a wide range of instruments.
The USDT-M uses USDT as collateral. Margin and profit/loss calculations with USDT-M are more intuitive compared to inverse contracts.
Example: If you trade 1 BTC contract and the price moves 100 USDT, your profit/loss is 100 USDT—directly proportional to the USDT price curve.